I think the insane amount of green we've had makes less sense than this red.Originally Posted by Bassmaster96
I think the insane amount of green we've had makes less sense than this red.
Agreed!!
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even penny land is being wrecked. Some days the most profitable thing you can do as a day trader is not trade at all. Today was that day for me.
What we cannot obtain from intelligence, we can learn from experience.
Yep, that's very true. I'd even hate to short right now
Yeah I can agree with that. That's why I did a ton of selling on the last pop
Blood bath. Glad I sold my positions this week before today. Will be watching
What signs did you guys pick up on that made you sell off?
Wishin' I was fishin'...
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Sentiment in the lounge. Ever since I became a member, the lounge has always been a good contrarian indicator. TSLA especially.
Thanos was the hero
What we cannot obtain from intelligence, we can learn from experience.
Guy Adami will be smiling tonight on Fast Money
Every day, for many years, on my way home I used to listen to Fast Money on Sirius XM radio, but not anymore. It slowly became more and more political and I just could not take it anymore. I like Guy and follow him on twitter, but I cannot stand politics, especially on a stock market show.Guy Adami will be smiling tonight on Fast Money
What we cannot obtain from intelligence, we can learn from experience.
I watch him on Northman Trader also. I like him as well. He doesn't take himself too seriously.
There were multiple reasons I pulled out. Nobody flying, car sales and production down, businesses closed etc. Also, when everybody and their brother starts buying everything I start expecting a pull back.
So after hours is recovering. Will tomorrow be green?
It may start green but could finish in the red. Very tough to see the day to day in this market when the headlines are driving alot of this.
True, I held off for now. I'd feel better daytrading on the days that I can rather than hope for a swing.
Rally was too hard and too fast, and it started waivering some, so I figured I should sell. Kind of like when you see a ridiculous green candle daytrading. It will always come back down and consolidate unless something solid drove it, and then it still does at least a little.
Should have sold my Royal Caribbean shares a few days ago when it was in the 70's..
I just sort of look at the economy and where I think it is headed in the near term. I invest long term with a 10 to 50 year time horizon so I don't sweat the near term stuff as much but when I'm looking to trim or buy stocks I want to get a decent price and I am willing to wait if need be. The market is forward looking and I think at the P/E levels it was a bit optimistic about how the recovery unfolds and I thought the market was a bit overpriced. So when that happens and there is uncertainty, I take some profits and try to add some more cash so I can buy some things i want at better levels. Everyone has their own method, their own goals, risk tolerance etc. I sort of manage my accounts like a mutual fund. I diversify, keep positions in a range for the most part and try to manage risk for the long term and a moderate level of growth. With a longer term time horizon I'm not trying to hit home runs I'm trying to hit singles over a long period of time. It really depends how you invest. A high frequency trader, day trader etc. is more focused on short term events and someone with a longer horizon is not as concerned with the shorter term price levels if they like a certain stock. Its funny because I have alot of the same stocks for my kids that I bought in 2010 and have been reinvesting the dividends. PFE at 17, VZ at 28, SO at 35, APPL at 85. Most of these are not get rich quick plays but buy and hold so it really depends on how you are trying to invest and the time period. Sometimes its just time in the market that matters and if you get a good entry point on a good stock it can pay off over a longer term horizon with less risk but you have to be willing to wait and hold it.
@nitro. Wow...how boring. Ridiculous how much sense you make. I too worship at the church of get rich slowly.
In fact for me, it is very seldom that I sell. I try to have conviction when I buy a stock. I really want to understand and believe in the underlying demand for its good or services. Long term trends that are evident for some and overlooked or at least just taken for granted by many.
It is when my fundamental beliefs in a company is rocked is when I typically sell....when something appears that crosses my original hypothesis and beliefs...or I feel that I made a mistake.
As a result my portfolio is full of stocks I have held for a long long time. Just a few seconds ago I was looking for some of these holdings to add to.
Going in and out of stocks creates a tax consequence for me since I do my single stock investment in a taxable account. This reinforces my interest in maintaining course and letting my stocks run.
The game isn’t necessarily to be right every time but right more often and hopefully much more often than not.
Also knowing that selling requires being right a second time...which often doesn’t work out for me. In the past when I trimmed due to “valuation” I more often than not wished I would have just let it run...and so now I do.
downside is obvious. My portfolio might look a little more imbalanced than what others might be comfortable with. As long as the long term demand is intact and these franchises keep outpacing their competition, I think the risk is worth the reward.
Pick mostly correctly at the start...be patient and add when others are running from the stock...and hold on to reap the long term rewards.
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